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  "notes": "The slide compares 'As Reported' vs 'Consolidate % of Athene Earnings' scenarios to highlight the accretion.",
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      "text": "Apollo is consolidating 100% of Athene's earnings for 73% increase in ownership; Existing investment represented $0.68 per share of unrecognized earnings in 2020; Full merger creates accretion of $1.38 per share or 68% on 2020 combined after-tax earnings; Combined company earnings expected to be neutral to positive",
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      "text": "Highly Accretive Transaction",
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